India has huge human capital potential: TCS

It would be wise to be bullish on the Indian economy as the country has great potential in its human capital, N Chandrasekaran, chief executive officer (COO) of Tata Consultancy Services (TCS), India's largest software services firm, has said.

"Our fundamental strength for the next decades is the talent that we have. Huge working population will make critical contributions in various sectors," Mr Chandrasekaran said at the 4th National Finance Conclave held at KIIT University's School of Management on Saturday.

While India's short-term concern is devaluation its currency, slowing economic growth is a key concern in the long term, said Mr Chandrasekaran. He further said that a transformation can be brought about by technology and investments in critical sectors.

Highlighting the positive side, he said domestic industries have grown phenomenally in the last 20 years and contributed significantly in terms of the country's exports which at present stands at $85 billion.

All emerging markets - India, China and Brazil - have shown incredible growth, the TCS chief said, attributing the current crisis to a global slump in demand.

The conclave had an engaging panel discussion, which featured, among others, H K Pradhan, senior professor at XLRI, and Paresh Gupta, CFO of Jubilant Biosys, said a release issued by KIIT University.

The panelists focused on three significant problems that the country is dealing with - external vulnerability, high gold imports widening the current account deficit and better market sentiments outside causing capital flight.

Ensuring ease of doing business, better management of external factors, improvement of regulatory and policy environment and improving the educational system are some of the measures to bring the economy back to the growth trajectory, it said.